Prices of yerba mate reflect rising inflation in Argentina
Argentina's favorite beverage has fallen prey to inflation that is plaguing Latin America's third largest economy. Yerba Mate, which is sipped through a metal straw and is quintessentially Argentinian, has seen its price skyrocket in the last few weeks due to severe droughts that hit crops in the main northern growing areas and because many farmers prefer to grow more lucrative soybeans. Prices in supermarkets are approaching $9 per kilo, despite government regulations that indicate a price range more than twice as low. The situation has attracted the ire of Argentina's president, who has threatened to import yerba mate from abroad or possibly nationalize the industry. Inflation in Argentina currently stands at about 25% according to experts.